ImmunoGen (NASDAQ:IMGN) has been assigned a $18.00 price target by equities researchers at HC Wainwright in a note issued to investors on Monday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential upside of 60.14% from the stock’s previous close.
Other research analysts have also issued reports about the company. BidaskClub upgraded ImmunoGen from a “hold” rating to a “buy” rating in a report on Thursday, January 18th. ValuEngine upgraded ImmunoGen from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. Zacks Investment Research cut ImmunoGen from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $12.00 price objective on shares of ImmunoGen in a research report on Thursday, February 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $10.21.
ImmunoGen (IMGN) opened at $11.24 on Monday. ImmunoGen has a 1-year low of $2.84 and a 1-year high of $12.05. The company has a market capitalization of $1,493.19, a P/E ratio of -11.02 and a beta of 2.17. The company has a current ratio of 4.95, a quick ratio of 4.94 and a debt-to-equity ratio of -0.11.
In other news, CEO Mark J. Enyedy sold 67,717 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $10.87, for a total transaction of $736,083.79. Following the sale, the chief executive officer now directly owns 532,383 shares in the company, valued at $5,787,003.21. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Richard J. Gregory sold 34,486 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $10.88, for a total value of $375,207.68. Following the sale, the vice president now owns 239,094 shares in the company, valued at $2,601,342.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,834 shares of company stock worth $2,118,633. 6.51% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its position in ImmunoGen by 33.0% in the third quarter. Schwab Charles Investment Management Inc. now owns 441,445 shares of the biotechnology company’s stock valued at $3,378,000 after acquiring an additional 109,547 shares during the period. Sphera Funds Management LTD. bought a new stake in ImmunoGen in the fourth quarter valued at $3,205,000. TD Asset Management Inc. bought a new stake in ImmunoGen in the third quarter valued at $286,000. Virtus Fund Advisers LLC bought a new stake in ImmunoGen in the fourth quarter valued at $346,000. Finally, Parametric Portfolio Associates LLC grew its position in ImmunoGen by 130.1% in the second quarter. Parametric Portfolio Associates LLC now owns 88,553 shares of the biotechnology company’s stock valued at $630,000 after acquiring an additional 50,061 shares during the period. Hedge funds and other institutional investors own 78.60% of the company’s stock.
ImmunoGen Company Profile
ImmunoGen, Inc is a clinical-stage biotechnology company that develops targeted cancer therapeutics using its antibody-drug conjugate (ADC) technology. An ADC with the Company’s technology comprises an antibody that binds to a target found on tumor cells conjugated to one of its anti-cancer agents as a payload to kill the tumor cell once the ADC has bound to its target.
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